10-Q Filing

MP MATERIALS CORP. / DE CIK: 1801368 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001801368-20-000002`
Period End Date	20200331
Filing Date	20200609
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	fortressvalueacqcorp-q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 17 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash	`Cash`	$25.00K	USD	Point-in-time
Deferred offering costs associated with initial public offering	`DeferredOfferingCosts`	$541.13K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Total Assets	`Assets`	$566.13K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$355.85K	USD	Point-in-time
Note payable - related parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$190.78K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$546.63K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$24.14K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.50K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$19.50K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	-	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$566.13K	USD	Point-in-time

Income Statement 4 line items

Line Item	Tag	Value	Unit	Period
Formation and operating costs	`OperatingExpenses`	$5.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.50K	USD	1 Quarter
Weighted average shares outstanding basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.50M	shares	1 Quarter
Basic and diluted net loss per share (in usd per share)	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter

Cash Flow Statement 13 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.50K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	1 Quarter
Net cash (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.50K	USD	1 Quarter
Proceeds from issuance of Class F common stock to the Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter
Proceeds received under note payable from related parties	`ProceedsFromRelatedPartyDebt`	$190.78K	USD	1 Quarter
Payment of deferred offering costs	`PaymentsOfStockIssuanceCosts`	$185.28K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$30.50K	USD	1 Quarter
Net change in cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$25.00K	USD	1 Quarter
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.00K	USD	Point-in-time
Cash - beginning of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.00K	USD	Point-in-time
Cash - end of the period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	Point-in-time
Deferred offering costs included in accounts payable and accrued expenses	`DeferredOfferingCostsNoncashInvestingandFinancingActivities`	$355.85K	USD	1 Quarter

Stockholders Equity 7 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$19.50K	USD	Point-in-time
Beginning balance	`StockholdersEquity`	-	USD	Point-in-time
Issuance of Class F common stock to the Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	1 Quarter
Issuance of Class F common stock to the Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-5.50K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$19.50K	USD	Point-in-time
Ending balance	`StockholdersEquity`	-	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.